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WTI - SIDEWAYS SCENARIO

WTI - SIDEWAYS SCENARIO

Crude Oil WTI NYMEX:CL1!

According to this chart, WTI bounced from longterm trendline. Break of it, along with AP line, would be huge event - could happen as well, of course. But unless broken, odds are supporting sideways outlook when it could take quite a long time to get to 65/70 area at median AP line (longer one) - slow CCI is much deeper than in 2007 (like in 1986), and price action is not so volatile, therefore brief pickup is not very likely this time. If 40 support level goes, then there is room to 25 at descending AP line.